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Online CPD Module

Presentation time: 120 minutes

2

CPD HRS

Increasingly family lawyers need a sound degree of financial knowledge when they are dealing with relationship break-ups where there is a property in dispute.

This module will provide you with the background to better understand valuation theory and how it is applied in practice with a focus on practical issues for family lawyers and will include a number of case studies which will assist you in quantifying relationship property, better managing your experts and critiquing opposing expert evidence.

Whether you do one or two cases a year or specialise in dealing with relationship property cases, this seminar will be a useful summary and discussion of the issues and practices involved.

You will learn:

How to read and make sense of financial statements

Fundamental issues that should be understood in any valuation

How to form a view on whether a business is worth valuing

How to trace property that has been “secreted away”

Why valuers disagree and strategies to deal with disagreements

The various approaches used to value different categories of property in a relationship property dispute:
- company and business
- different valuation approaches required by different businesses

Miscellaneous valuation issues including:
- contributions of the partners to the relationship property: post-separation contributions
- increase in value of separate property
- valuation issues which arise out of interests in trusts.

Learning objectives

You will:

Have a greater understanding of financial statements and the fundamental issues in any valuation.

Be able to apply this knowledge when advising your clients.

Please contact us if you use a dial up internet connection.

Booklet

Introduction

This is the second time we have run this seminar, the first being in April 2011. In this ―second edition‖ we similarly explain accounting and valuation principles and practices. In addition we also discuss relationship property law and how valuation principles and practices are applied to that law.

You can be excused for coming to the topic of valuation, and in particular, relationship property valuations with a degree of trepidation.

The science and art of business and company valuations defies the desire for easily implemented solutions and answers. Business and company valuations challenge minds within the business, academic and legal communities.

Overlying the complexity of issues to do with ―ordinary‖ valuations of companies and businesses is the added complexity arising from relationship property requirements – Property (Relationships) Act 1976 (PRA or ―the Act‖), case law and issues which have not been judicially decided - present practitioners with a challenging cocktail.

Although it is not possible to turn you into an expert valuer in this seminar, it will be possible to explain basic valuation theory, principles and practices so that you can better perform your role as a lawyer in the field of relationship property law. Though the complexities, variations and nuances of valuation are challenging, this overview will provide you with helpful insights and practical tips.

We will first consider financial statements. These indicate the state of health of an organisation measured in terms of profitability (per the income statement) and net asset position (balance sheet).

Next we outline the principles of valuation and explain the how these are applied. Then we consider some specialist relationship property related valuation issues including economic disparity and valuation of trusts, before finally offering some tips on how you might get the best from your expert.

This seminar deals with the valuation of businesses (whether the ownership structure is sole trader, partnership, company, trust or other form of ownership). It does not consider valuations of real property, plant and equipment or other such fixed assets.

PowerPoint Presentation

These are the slides included in the presentation.
Number of Slides: 89

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